Independent pharmacies struggle with rising drug costs and PBM regulations
Jan 17, 2025
Rising prescription costs are threatening the survival of independent pharmacies. Patients like Cecelia Rodriguez are loyal to their local pharmacies despite pressure to switch to chains. Senate Bill 966, aimed at regulating Pharmacy Beneficiary Managers (PBMs), did not pass, limiting support for independent pharmacies. Independent pharmacies face closures nationwide due to unmanageable reimbursement rates from PBMs. Dr. Liz Altmiller highlights the financial strain on independent pharmacies, impacting patient care.BROADCAST TRANSCRIPT:Cecelia Rodriguez explains,They keep bothering me about it they send me letters, they call me up and now I reject the phone.Rodriguez is one of the many patients the pharmacy beneficiary managers have sent a letter to and called saying she cant keep the independent pharmacy Your Drug Store that shes been going to for 20 years.Rodriguez stresses,I go no! They wanted to give me Ride Aide they wanted to give me CVS they wanted to give me Walmart. I said no Im goanna stick to my own pharmacy.This has been an ongoing concern since her insurance isn't accepted at chain pharmacies.Additionally, Rodriguez says independent pharmacies are more convenient with her medications.Rodriguez claims,This pharmacy so far the only one who bubble packs it for me and I am happy with that.Her same worries are the worries of Dr. Liz Altmiller owner of Your Drug Store .Noting since Senate Bill 966 Pharmacy Benefits didnt pass which was going to regulate the control Pharmacy Beneficiary Managers have over pharmacies has limited the care she can give her patients.Dr. Altmiller shares, Weve had to turn people away because we were not able to help them based off of decisions made by the PBMs.Atlmiller claims this adds onto the struggles she says independent pharmacies have been seeing with closures in Kern County and all over America.Dr. Altmiller explains, "Pharmacies have closed The drug store at Kern Ville closed. I can't list all of them several independent pharmacies have not been able to make it including pharmacies that have been open for decades.WHAT ARE PHARMACY BENEFICIARY MANAGERS?Pharmacy Beneficiary managers PBMs create formularies, negotiate rebates (discounts paid by a drug manufacturer to a PBM) with manufacturers, process claims, create pharmacy networks, review drug utilization, and occasionally manage mail-order specialty pharmacies.Dr. Altmiller addresses, The PBMs the reimbursements that were seeing on them are either negative or its like 41 cents that doesnt even cover my bottle and label its not gonna pay me to employee anyone its not going to pay me to keep the lights on or pay the rent.Which Dr. Altmiller says continues to impact the cost of prescription drugs patients get, impacting what insurance coverage, and available services for patient care at her pharmacy and others.Rodriguez tells me,Ill never change pharmacies not for them not for nobody else.Stay in Touch with Us Anytime, Anywhere: Download Our Free App for Apple and Android Sign Up for Our Daily E-mail Newsletter Like Us on Facebook Follow Us on Instagram Subscribe to Us on YouTube